Executed by charging down-backward then pressing forward and kick, Vega employs his backflip animation as an offensive attack. It is useful as an anti-air counter, moves him forwards instead of backwards and breaks armor.
The light kick version of the move has Vega do a very short hop and strikes once, the medium kick version increases the range and strikes twice, and the heavy kick version will have bigger range and strikes twice as well. The EX Special introduced in Street Fighter IV has Vega jump much higher, with more damage dealt and a slightly bigger interval between the two hits.
As with all anti-air moves, it works well for punishing or inhibiting incoming air attacks, though Vega will be left vulnerable if it whiffs or gets blocked. Through precise timing, he'd be able to strike any airborne attacker down.